APosner
Long

AUD/CAD looks ready to rally

OANDA:AUDCAD   Australian Dollar/Canadian Dollar
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4
With Crude Oil touching its recent highs and failing to push higher, perhaps this an opportunity to see crude sell-off and exploit the overbought condition of the CAD. Outside of higher oil , there is no reason to buy CAD, and against most currencies, it has been selling off on longer term charts.

The likelihood this is a swing low for AUD/CAD is likely here.

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Comments

I agree, if anything, CADUSD rallied way more than AUDUSD, if you compare all to oil's move in the past 3 months. So, AUDUSD has some catch up to do with CADUSD.
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APosner IvanLabrie
@IvanLabrie, Great Point!!
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